Price Formulas

You can create a price formula based on an Argus spot assessment. The price formula can be based on the trading day mean or low price. It can be tied to the previous or the current day Argus contract.   Your company must be an Argus subscriber in order to set up Argus price formulas

You can create an advanced price formula based on a Platts spot assessment. The price formula can be based on the trading day mean or low price. It can be tied to the previous or the current day Platts assessment.   Your company must be a Platts subscriber in order to set up Platts price

The Advanced Price Formula screen lets you set up a price based on a DTN FastRacks Index.   You must be a DTN FastRacks subscriber in order to use this feature. You must also be authorized to receive DTN FastRacks prices at the market city for the terminal where you wish to lift product. You

The Create New Future Index-based Price Formula screen lets you set up a price based on a NYMEX futures index. You begin by selecting the futures index you want for the base price. The base price will be based on the last settlement price for the nearby contract, which will be updated each day to

The Copied Prices screen lets you copy a price posted by a supplier at one terminal and make that price available at other terminals. This helps you keep prices current at all the terminals where you purchase product, even when the supplier does not send a price for that location.

You can create price formula by applying an adjustment to the posted rack price from a designated supplier for a product or group of products. The system will use the posted rack price for the selected supplier/product combination as the basis for the contract price. Whenever a new posted rack price for the original supplier/product

In order to include Price Formulas in your Best Rack report, you must click the Price Formulas selection box before clicking the Search button. Price Formulas are highlighted with a green background and designated as ”PF.”

In order to see Price Formulas, you must click the Price Formulas selection box before clicking Get Prices. Price Formulas are highlighted with a green background and designated as “PF.” Rack posted prices have a plain background. When you click the PF price, an information box will open to display more information.